When you and your partner decide to split up, that decision comes with some issues. You’re not married, so there’s no precise way to know how to divide your assets. What you do know is that it’s necessary to split your assets as fairly as possible, considering how much each of you put into your home and relationship.
Since you’re separating but aren’t married, you can’t go through a divorce. You could opt for a legal agreement to be drawn up, though, which could define what assets to which you or your partner are entitled post-split. Regardless of what you choose to do to make the break-up official, you need to be able to show who owns what.
Fortunately, you can show what you own pretty easily with just a few tips. Here are three ways you can prove that you own property so it stays with you after you and your partner break up.
Do you have receipts for the purchase of property in your home? Think about things like televisions, gaming systems, appliances and furniture. Smaller items, like clothing, are pretty straightforward (in most cases). For big-ticket items, produce as many receipts or purchase notes as you can to prove that the piece is legitimately yours.
2. Check which debts are in your name
Another thing to do is to run your credit report. Remember, since you’re not married, any property that is only in your name stays in your name. Get mortgages, titles and other information to show who owns, or has an ownership share of, major assets.
3. Know what you brought with you into your arrangement
Did you drive your car into your current relationship? Maybe your pet was always with you before your partner joined your lives. It’s a good idea to sit down and think about the things you owned before this relationship began. Any property or assets you bought together are shared and need to be divided equally, but property you owned before your relationship remains reliably yours. Photos, videos and other information showing when you bought or began using certain assets can help you prove that you owned them before your relationship began.
These are three tips for determining who owns what when you plan to split. Since you’re not married, you’re not as protected as those going through a divorce. However, if you’re cautious and thorough, you can prove what you own and keep what’s yours from your relationship.